Suyen Corp., a retail conglomerate owned by Bench founder Ben Chan, is venturing into the real estate business through investment in Clark Global City of businessman Dennis Uy.
Suyen and Global Gateway Development Corp. of Udenna Group signed a memorandum of agreement for the sublease of 2,886 square meters at the latter’s 177-hectare leasehold within the Clark Freeport Zone in Mabalacat, Pampanga.
“We thank Suyen for choosing to invest in Clark Global City and for sharing our vision for a central business district that will create more opportunities for Filipinos beyond the country’s major cities that have become highly congested,” GGDC chairman Dennis Uy said.
Under the plan, Suyen will build an office tower for lease in Clark Global City which has been attracting the biggest demand for office spaces outside Metro Manila.
“We’re bullish on the Philippine economy and seeing how it’s slowly but surely extending to key cities outside of Metro Manila,” Suyen chairman and chief executive Ben Chan said.